Main Street Registry

Telco Discount of Avenue U, Inc

Brooklyn, NY · All Other General Merchandise Retailers · NAICS 455219

Telco Discount of Avenue U, Inc is a general merchandise retailer in Brooklyn, New York, classified under NAICS 455219 (All Other General Merchandise Retailers). The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,556,000, approved on November 8, 2023, through Dime Commercial Bank and the Empire State Certified Development Corporation.

SBA 504 loan, approved Nov 8, 2023

$1,556,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,556,000
Bank portion
$1,900,000
Estimated project size
$3,840,000 (estimated)
Estimated owner equity
$384,000 (estimated, about 10% of the project)
Bank lender
Dime Commercial Bank, Hauppauge, NY
CDC
Empire State Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 8, 2048 (estimated, approval date plus term)
First disbursement
Apr 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
455219, All Other General Merchandise Retailers
Project location
Kings County, NY
SBA district office
New York District Office
Congressional district
NY-7
Collateral
Yes

Estimated share of project by source

Bank 49% SBA (CDC) 41% Owner 10%

  • Larger than 45% of expansion loans in All Other General Merchandise Retailers on this site.
  • Average expansion loan in All Other General Merchandise Retailers: $2,003,182.
  • Average expansion loan in New York: $2,225,161.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in New York